September 2022

Swiss voters support increase in women’s retirement age

Swiss have voted in favor of the proposal by a narrow margin in a referendum. Another proposal, on imposing stricter regulations on livestock farming, failed to pass. Swiss voters accepted the government's pension reform plan by a narrow margin on Sunday. The plan would raise the retirement age for women from 64 to 65, brining it in line with the age for men. Read also Sustainable finance policy a ‘blind spot’ for European pension funds A concurrent vote on imposing stricter regulations in...

Progressive pension systems can help tackle inequality caused by job instability

Job stability varies drastically between individuals, with some people staying in jobs for an extended period of time, and others frequently losing their jobs. As Leanne Nam writes, this heterogeneity can be an important source of inequality that often goes under the radar of governments. Drawing on a new study, she illustrates how progressive pension systems can be used to address the problem. Heterogeneity in job stability is a salient feature of labour markets. Even in the flexible and dynamic...

Officials Quit $137 Billion Pension Fund in Kuwait Shakeup

A broad shakeup of state institutions deepened in Kuwait after top officials in the Gulf state’s pension fund were asked to resign. Director General Meshal Al-Othman and three of his deputies, including Raed Al-Nisf, were asked to quit Kuwait’s Public Institution for Social Security (PIFSS). The officials had spent years revamping the roughly $137 billion fund, which owns a quarter of US private equity firm Stone Point Capital LLC. The shift comes ahead of parliamentary elections in the OPEC member state...

México. Al cierre de agosto, traspasos de cuentas entre afores suman más de 2.4 millones

Moody's reafirma que los trabajadores se encuentran muy expuestos a pérdidas sustanciales en sus inversiones cuando optan por cambiarse. De acuerdo con datos de la Comisión Nacional del Sistema del Ahorro para el Retiro (Consar), los traspasos de cuentas entre las administradoras de fondos para el retiro (afores) suman 2 millones 440,656, al cierre de agosto, lo que significó una caída de 5% en comparación con el mismo periodo del 2021. Solamente en agosto, la Consar contabilizó 323,533 traspasos, esto es...

Ocde advierte sobre la baja productividad de Chile y la informalidad laboral, pero respalda la reforma tributaria

En su informe sobre el país, sostiene que el aumentar los ingresos públicos en 4 puntos del PIB, como "es ambicioso, pero es factible a través de una reforma tributaria integral”. La Organización para la Cooperación y el Desarrollo Económicos (Ocde) publicó su Estudio Económico de Chile 2022 donde analiza la recuperación económica de Chile tras la pandemia del COVID-19 y cómo las reformas podrían aumentar los ingresos fiscales, ampliar la protección social y mejorar la productividad. En su análisis sostiene...

UK. Inflation presents ‘considerable risk’ to DC pension pots

Skyrocketing inflation figures pose unique challenges for defined contribution pension schemes as memberships surge to record highs, according to the Pensions Policy Institute’s DC Future Book. Though the state pension triple lock provides “partial protection” for those in retirement against inflation, the PPI warned that the cost of living crisis could be compounded if returns on investment do not match inflation, which would lead to erosion in the value of DC pots. Active DC membership now stands at 13.8mn people, 10.7mn...

US. How To Help Protect Your Savings From Inflation When You’re Planning For Retirement

With some careful planning, you can mitigate the impact of inflation on your retirement savings. As inflation rises, many preretirees are wondering how they can ensure that their retirement savings will cover their cost of living in the future. For investors who are planning for retirement, the good news is they still have time to make any necessary adjustments. They may even find the plan they have in place is already sufficient to mitigate the impact of inflation. How inflation affects...

Ghana. NPRA to collaborate with Goasomanhene to promote ‘one trader one SSNIT number’ campaign

The Sunyani zonal office of the National Pensions Regulatory Authority (NPRA) has indicated its readiness to collaborate with Nana Kwasi Bosomprah, Paramount Chief of the Goaso Traditional Area on his 'one trader, one SSNIT number' campaign. The idea of the Paramount Chief is to encourage every trader have a Social Security and National Insurance Trust (SSNIT) number and contributed to the scheme. The collaboration became a reality when Mr David Tetteh-Amey Abbey, the Deputy Chief Executive Officer of the NPRA...

México. Trámites inconclusos, principal reclamo contra las afores

Las entidades federativas donde se presentó un número mayor de reclamaciones fueron: la Ciudad de México con 14% y el Estado de México con 13 por ciento. Las administradoras de fondos para el retiro (afores) recibieron 4,408 reclamaciones de enero a julio del 2022, además, durante agosto el número de quejas presentadas ante la Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros (Condusef) aumentó a 5,222, según información proporcionada a El Economista. De acuerdo con un...

Sindicatos Ecuador exigen pago de deuda a la seguridad social

Trabajadores de los principales sindicatos de Ecuador salieron este miércoles a las calles de Quito para exigir al Gobierno el pago de la deuda pendiente con el sistema estatal de seguridad social, amenazando con escalar las protestas si no hay acuerdo. La situación del Instituto Ecuatoriano de Seguridad Social (IESS) ha enturbiado la provisión de servicios de salud a los afiliados y está poniendo en riesgo el sistema de pensiones de jubilación, dijeron los trabajadores. El presidente Guillermo Lasso reconoció una...